[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 1461 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 1461

  To amend the Internal Revenue Code of 1986 to treat trees and vines 
producing fruit, nuts, or other crops as placed in service in the year 
     in which it is planted for purposes of special allowance for 
                             depreciation.


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                   IN THE SENATE OF THE UNITED STATES

                             July 16, 2009

    Mrs. Boxer (for herself, Mr. Nelson of Florida, Mr. Wyden, Mrs. 
 Feinstein, and Mrs. Gillibrand) introduced the following bill; which 
        was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to treat trees and vines 
producing fruit, nuts, or other crops as placed in service in the year 
     in which it is planted for purposes of special allowance for 
                             depreciation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PLACED IN SERVICE DATE FOR TREES AND VINES FOR PURPOSES OF 
              SPECIAL ALLOWANCE FOR DEPRECIATION.

    (a) In General.--Subsection (k) of section 168 of the Internal 
Revenue Code of 1986 is amended by adding at the end the following new 
paragraph:
            ``(5) Special rule for certain trees and vines.--For 
        purposes of this subsection, in the case of any qualified 
        property which is a tree or vine producing fruit, nuts, or 
        other crops, such property shall be treated as placed in 
        service in the year in which it is planted.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to taxable years beginning after December 31, 2008.
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